A Free-Market Energy Blog

ExxonMobil Joins Left’s Climate/Energy Agenda (H.R. 5376)

By Robert Bradley Jr. -- August 10, 2022

“Bad Profits, rent-seeking, resource misallocation–it’s an upside down world, turning Ayn Rand’s dis-utopian world in Atlas Shrugged into reality one step at a time.”

“Manchin-Schumer leaves no special interest unrewarded,” wrote Robert Bryce. “The legislation is so broad and has so many carve outs that it has been lauded by Exxon Mobil and the Natural Resources Defense Council.”

The new law’s “lollipops” (Bryce) go to wind, solar, EVs, ethanol, carbon capture and storage, and hydrogen–all money losers on a real free market. Bad Profits, rent-seeking, resource misallocation–it’s an upside down world, turning Ayn Rand’s dis-utopian world in Atlas Shrugged into reality one step at a time.

It is a sad day when ExxonMobil, once a bastion of climate and energy realism and good business, goes all-in with the Inflation Reduction Act
of 2022
.…

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All-Electric Forcing in the “Inflation Reduction Act” (up to $14,000 per home)

By -- August 9, 2022

“It seems that the only people who could claim a $14,000 [home electrification] rebate have well above average income.  If so, like $7,500 electric vehicles (EV’s) rebates, this is an incentive that primarily will benefit the already well-to-do; except nearly twice as much as EV’s.”

“Without gas utilities to serve heating demand, electric utilities will become winter peaking, requiring massive investments of generating capacity and/or battery storage.”  

Searchable text of Inflation Reduction Act is here.

The American public has been sold out in energy and climate just when the opposite seemed to be at hand. This bill is about bigger government, more spending, greater deficits, and more monetary inflation (federal counterfeiting) to make it all work (see Concerned Economists letter).

Hidden in the Bill are innumerable special-interest government interventions, one of which is very anti-consumer that no one is talking about.…

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Big Wind/Solar Roll Taxpayers, Landscape: Legislative Bonanza: A Terror Unleashed

By -- August 8, 2022

“The Schumer-Manchin bill provides that after 2024 the traditional PTC and ITC programs expire, but the benefits live on through the new “Clean Electricity” tax credit program.”

“Based on published project footprints of recently sited wind projects in Wyoming, Oklahoma, New Mexico, and Colorado, new wind turbines will spread across 30 million acres (50,000 sq. mi.) by 2032.”

The Schumer-Manchin bill passed by the US Senate this weekend and heading to the House erases any doubt whether Congress is serious about lowering inflation, addressing energy costs, or protecting the environment.

Ironically dubbed the Inflation Reduction Act of 2022, Schumer-Manchin will do nothing to reduce inflation. But what it will do is far worse. Schumer-Manchin will unleash the largest industrialization of U.S. open lands not seen since the damming of our western rivers.…

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Economists Letter to the U.S. Congress on the “Inflation Reduction Act of 2022”

By Robert Bradley Jr. -- August 5, 2022
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Excusing Wind in Texas? (ICN in spin mode)

By Robert Bradley Jr. -- August 4, 2022
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Conditioned Air: Let’s Go! (climate politics at war with itself)

By Robert Bradley Jr. -- August 3, 2022
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Plant Vogtle #3 and #4: More Issues (costs, delay, partner opt-downs)

By Robert Bradley Jr. -- August 2, 2022
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Energy and Environmental Review: August 1, 2022

By -- August 1, 2022
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Liberty Energy: Playing Offense

By Robert Bradley Jr. -- July 29, 2022
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Hansen on Climate/Energy Policy: An Evaluation and Rebuttal

By Robert Bradley Jr. -- July 28, 2022
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